Hotel on Great Diamond Island to be rebuilt
The lead developer of a hotel on Great Diamond Island destroyed by fire last November plans to rebuild at the site, aiming for completion of the $12.3 million project by May 2015.
The Bangor Daily News reported that David Bateman, head of Diamond Cove LLC, announced late last week his plans to move forward despite an estimated $9 million in damage to the structure. The fire burned for about 25 minutes before firefighters arrived, but Bateman said a substantial portion of the building’s walls were saved. That means the project is still eligible for historic renovation tax credits, which Bateman said were integral to the project initially.
The historic military barracks had been vacant for years before the city took the property in 2005 due to unpaid taxes. The city then sold the property to developers for $1 in a deal that generated strong opposition among some island residents.
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